2014

The Fiscal Compact of 2 March 2012 obliges the Contracting Parties to introduce a debt brake into national law. Amongst other things, it provides for a correction mechanism obliging the Contracting Parties directly in case of default. Thus the budgetary discipline of Contracting Parties is to be strengthened. The Commission proposes seven principles which the Contracting Parties should take into in shaping national laws.

2014

The Commission wishes to delegate key tasks of banking supervision from national banking au-thorities to the European Central Bank (ECB). The tasks of the European Banking Authority (EBA) and the voting rules in its supervisory council must be adjusted accordingly.

2014

The Commission wishes to delegate key tasks of banking supervision from national banking au-thorities to the European Central Bank (ECB). The tasks of the European Banking Authority (EBA) and the voting rules in its supervisory council must be adjusted accordingly.

2014

In order to reduce CO2 emissions in the transport sector, the EU introduced CO2 thresholds for new passenger cars. These thresholds will be tightened to 95 grams CO2 per kilometre as of 2020. Now the Commission proposes measures in order to achieve the CO2 targets valid as of 2020 for a manufacturer’s passenger car fleet as neutral as possible from the point of view of competition. For this purpose the formula determining the specific CO2 emissions for manufacturers shall be modified and benefits for passenger cars with particularly low CO2 emissions shall be reduced.

2014

According to the Commission, the costs and risks of cross-border securities transactions are too high compared to national securities transactions, the access of market actors – among them trade venues, central counterparties and central securities depositories – is limited and the competition between central securities depositories insufficient. The Commission wishes to address these deficits by measures to increase the safety of securities transactions and to open national securities markets.

2014

Due to the economic crisis, the demand for and price of CO2 emission allowances are lower than originally expected. As a result, the Commission holds that the functionality of the EU emission trading system is jeopardised. Therefore, it wishes to be afforded the possibility to change the timetable for auctioning emission allowances in order to be able to temporarily hold back these allowances (“backloading“).

2014

Motor vehicles for the commercial use of goods and passengers and their trailers are not only inspected regularly but due to their intense use inspected also randomly and unexpectedly on public roads (“roadside inspections”) in order to be able to assess their compliance with technical rules and environmental requirements at any time. Now the Commission wishes to harmonise and strengthen the existing rules (Directive 2000/30/EC) in order to enhance transport safety and to improve environmental protection.